After opening up of the economy and onset of globalization, growth in India has been exponential especially in the metros and large cities, thus leading to a phenomenal growth in real estate sector supported by the banking sector. Both of them have complimented each other effectively and successfully.

Banks for the purpose of financing / extending credit to borrowers have relied heavily on the valuation of assets and experts to do so.However practice in the field of valuation has traditionally been a profession dependent on individual knowledge and skills.